Bank of New York Mellon Corp Buys 23,185 Shares of Nutanix $NTNX

Bank of New York Mellon Corp grew its stake in Nutanix (NASDAQ:NTNX) by 1.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,315,778 shares of the technology company’s stock after buying an additional 23,185 shares during the quarter. Bank of New York Mellon Corp’s holdings in Nutanix were worth $119,703,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. New Millennium Group LLC bought a new position in shares of Nutanix in the fourth quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new stake in shares of Nutanix in the fourth quarter valued at approximately $39,000. Covestor Ltd grew its stake in shares of Nutanix by 73.1% in the fourth quarter. Covestor Ltd now owns 767 shares of the technology company’s stock worth $40,000 after acquiring an additional 324 shares during the last quarter. Harbour Investments Inc. grew its stake in shares of Nutanix by 159.4% in the fourth quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock worth $42,000 after acquiring an additional 502 shares during the last quarter. Finally, Optiver Holding B.V. bought a new position in Nutanix during the third quarter worth $68,000. Institutional investors own 85.25% of the company’s stock.

Nutanix Stock Performance

NTNX stock opened at $53.64 on Monday. Nutanix has a 1-year low of $34.01 and a 1-year high of $82.42. The firm has a market cap of $14.23 billion, a P/E ratio of 56.46, a P/E/G ratio of 5.99 and a beta of 0.62. The business’s 50 day moving average is $43.48 and its 200-day moving average is $44.88.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Wednesday, May 27th. The technology company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.35 by $0.12. The business had revenue of $364.94 million during the quarter, compared to the consensus estimate of $686.34 million. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.Nutanix’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company earned $0.22 EPS. Sell-side analysts forecast that Nutanix will post 0.56 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on NTNX shares. UBS Group increased their price target on shares of Nutanix from $60.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, May 28th. KeyCorp reiterated an “overweight” rating on shares of Nutanix in a research report on Thursday, May 28th. Wells Fargo & Company lifted their price objective on Nutanix from $50.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. The Goldman Sachs Group restated a “buy” rating on shares of Nutanix in a research report on Thursday, May 28th. Finally, Bank of America upped their target price on Nutanix from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.00.

Nutanix Profile

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company’s product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.